South Australian Consolidated Acts South Australian Consolidated Acts48—Grant of lease and fixing of rent
(1) Notwithstanding
anything contained in this Act, upon the acceptance of a surrender, as
provided by the last preceding section, the lessee shall be entitled to the
grant of a perpetual lease under this Act of the land comprised in the
surrendered lease at an annual rent to be fixed under this Act by the board
with the approval of the Minister.
(2) In fixing such
rent, any improvements made in or upon the land by the surrendering lessee
shall be disregarded, and the rent shall be fixed on the basis of the value of
such land without such improvements.